May 13th, 2024
Welcome to a new standard in payroll auditing.
At Wentworth Advantage, we have redefined the audit process by placing a spotlight on compliance with employment law. Unlike traditional audits, our service goes beyond financial calculations, ensuring alignment with the Fair Work Act 2009 (FWA) and any modern awards applicable to your organisation, specifically addressing issues such as the correct classification of employees and the accurate application of entitlements like overtime and penalty rates.
As ER/IR advisors specialising in employment law, we understand the nuances that can trip up even the most detailed payroll systems. Join us as we uncover common pitfalls and pave the way for compliance, fairness, and transparency in your employment practices.
Why is there an increased importance for an Employment Law Payroll Audit?
In the complex landscape of business operations, payroll management is vital for operational functionality. However, compliance with employment law is often overlooked amidst the complicated numerical calculations. At Wentworth Advantage, we understand the importance of legal adherence for financial accuracy and ethical integrity. Our Employment Law Payroll Audit service is tailored to shed light on these complexities – and provide actionable recommendations, offering businesses a proactive approach to ensure compliance and mitigate risks.
Here are some of the reasons why Employment Law Payroll Audits are important:
- New wage theft criminalisation laws: With the introduction of new wage theft laws across various Australian states, successfully navigating the legalities of employee wages and entitlements has become more important. A tailored payroll audit is crucial to ensure compliance and avoid penalties, reputational harm, and potential imprisonment linked to non-compliance.
- Limitations of payroll software: Recent high-profile underpayment cases in the media have highlighted the risks associated with relying solely on payroll software. Organisations find themselves exposed to compliance risks, legal liabilities, fines, and significant PR fallout. Despite advancements, payroll software remains susceptible to errors, particularly in capturing award complexities. These mistakes often stem from user errors during setup or outdated software versions.
- Rising non-compliance breaches: Recent headlines have highlighted numerous instances of non-compliance with employment laws by well-known Australian companies. These breaches not only result in substantial fines but also tarnish brand reputation and erode stakeholder trust. Conducting an employment law payroll audit can help identify and rectify any compliance gaps before they escalate into costly issues.
Why Should this Payroll Audit be Prioritised?
Prevention is the best cure, and now is the time for businesses to prioritise compliance with employment laws,
before potential issues escalate into costly legal battles and tarnished reputations. Our specialised employment law payroll audit offers a proactive solution to identify and rectify compliance gaps swiftly and effectively – a service in which Wentworth Advantage is uniquely qualified to undertake with our significant expertise in employment law. By addressing these issues now, organisations can safeguard themselves against financial penalties, reputational damage, and loss of stakeholder trust in the long run. Don't wait until it's too late; take advantage of our service today to ensure your business operates with integrity, transparency, and legal compliance.
If you're an organisation concerned about your compliance with employment law, don't hesitate to reach out to us. Our team of experts is ready to assist you in navigating the complexities of employment legislation and ensuring that your payroll practices align with legal requirements. Contact us
today to schedule an employment law payroll audit at 02 8448 3200, or by email at info@myadvantage.com.au. Your peace of mind is just a click or a call away.
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